Impact Capital Partners LLC Makes New Investment in Primerica, Inc. (NYSE:PRI)

Impact Capital Partners LLC purchased a new stake in Primerica, Inc. (NYSE:PRI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,185 shares of the financial services provider's stock, valued at approximately $1,136,000.

Other hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its stake in shares of Primerica by 11.8% during the third quarter. Assetmark Inc. now owns 1,461 shares of the financial services provider's stock valued at $387,000 after acquiring an additional 154 shares during the last quarter. Atria Investments Inc increased its holdings in Primerica by 8.0% during the 3rd quarter. Atria Investments Inc now owns 8,950 shares of the financial services provider's stock worth $2,373,000 after purchasing an additional 662 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in Primerica during the 3rd quarter worth approximately $221,000. Crossmark Global Holdings Inc. increased its holdings in Primerica by 106.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,680 shares of the financial services provider's stock worth $1,241,000 after purchasing an additional 2,415 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Primerica in the 3rd quarter worth approximately $716,000. Hedge funds and other institutional investors own 90.88% of the company's stock.

Insider Activity at Primerica

In other news, President Peter W. Schneider sold 2,000 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $282.90, for a total value of $565,800.00. Following the completion of the sale, the president now directly owns 13,301 shares of the company's stock, valued at approximately $3,762,852.90. This trade represents a 13.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Adam Jendusa sold 234 shares of Primerica stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $280.15, for a total value of $65,555.10. Following the sale, the insider now directly owns 200 shares of the company's stock, valued at approximately $56,030. This trade represents a 53.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,234 shares of company stock valued at $1,476,575 in the last three months. Corporate insiders own 0.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Primerica from $314.00 to $345.00 and gave the company a "buy" rating in a research report on Tuesday, November 26th. BMO Capital Markets initiated coverage on Primerica in a research note on Thursday, January 23rd. They issued a "market perform" rating and a $311.00 price objective on the stock. Piper Sandler cut their target price on Primerica from $313.00 to $300.00 and set a "neutral" rating on the stock in a research report on Wednesday, December 18th. StockNews.com downgraded Primerica from a "buy" rating to a "hold" rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Primerica from $315.00 to $320.00 and gave the company a "market perform" rating in a report on Tuesday, February 18th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $309.86.

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Primerica Trading Down 0.1 %

Shares of PRI stock opened at $277.39 on Thursday. The company has a market capitalization of $9.22 billion, a P/E ratio of 20.17 and a beta of 1.12. Primerica, Inc. has a 12 month low of $184.76 and a 12 month high of $307.91. The stock has a 50 day moving average of $284.31 and a two-hundred day moving average of $279.39.

Primerica (NYSE:PRI - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $5.03 EPS for the quarter, topping the consensus estimate of $4.81 by $0.22. Primerica had a return on equity of 31.11% and a net margin of 15.14%. Sell-side analysts predict that Primerica, Inc. will post 20.6 earnings per share for the current fiscal year.

Primerica announced that its board has initiated a stock repurchase program on Thursday, November 14th that authorizes the company to buyback $450.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Primerica Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 21st will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.50%. This is a boost from Primerica's previous quarterly dividend of $0.90. The ex-dividend date is Friday, February 21st. Primerica's dividend payout ratio (DPR) is currently 30.25%.

About Primerica

Primerica, Inc, together with its subsidiaries, provides financial products and services to middle-income households in the United States and Canada. The company operates in four segments: Term Life Insurance; Investment and Savings Products; Senior Health; and Corporate and Other Distributed Products.

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